Accounting
Accounting is the backbone of any business as it gives true and fair view of the profitability of the business. It supports strategic planning, facilitates investment decisions, and ensures compliance with regulatory requirements. Moreover, accounting plays a vital role in preventing fraud and detecting financial irregularities, safeguarding assets, and promoting ethical business practices. In essence, accounting is indispensable for the effective functioning and sustainability of any business or organization. To make sure the same is accurate and is comparable with other companies or within the same industry, the Government issues various Standards which are to be complied with so the financials are standardised.
[1] Indian Accounting :
The Indian Accounts are maintained keeping in view the Government Guidelines for Accounting namely Indian Accounting Standards (AS / Ind AS), Income Tax Act, 1961, and Goods and Services Tax Act (GST) and the related provisions and regulations. The major components of financial statements include Balance Sheet, Profit and Loss Account, Notes to the above, Cash Flow Statements. We make sure all the Government Compliances are dealt with properly in timely manner especially relating to Income Tax and GST. Proper Data provides reliable financial statements, enabling informed business decisions, optimizes tax planning, maximizing benefits, and enhances cash flow forecasting, enabling better financial planning and minimizing tax liabilities. Facilitates data-driven decision - making, driving business growth.
[2] Foreign Accounting :
The accounting is done as per the International Financial Reporting Standards (IFRS) framework, principles and applications. We make sure the accounting is done as per the Guidance given by the Authority. Standardised Policies and procedures are followed to make sure we do accurate accounting and share the same before the committed time so they can run their reports and make decisions based on it. Currently we are dealing with Accounting for clients based in UAE, UK and USA.
[3] Payroll processing :
Payroll processing including employee data management, salary calculation and processing, tax deductions and filing the returns. Ensures timely and accurate salary payments, minimizing errors and disputes. Ensures compliance with tax laws and minimizing penalties. Enhance employee experience through efficient payroll processing, employee benefits and administration ease. This includes monthly Salary Slips and Form 16 for all employees at year end.